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Fraud*According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain*As defined in Wikipedia

Tuesday, October 2, 2012

Goldman Sachs is not kind to its employees if they stray from their golden path. Sergey Aleynikov is in court again being prosecuted twice for the same crime. He is able, however, to demand that Goldman pay for his legal fees: the law allows for public companies to pay such costs and Aleynikov's former position at Goldman entitles him to seek this payment.

Fabrice Tourre, still waiting in the wings to face SEC charges while he was at Goldman, has also received payment of his legal expenses by Goldman.

In spite of these perks, you never want to get on the wrong side of Goldman Sachs.

In Goldman Programmer Case, a Way Around Double JeopardyBy Peter J. Henning - DealBook (New York Times) . . . .
Although the “dual sovereignty” doctrine allows New York State to charge Mr. Aleynikov with a similar crime, the state also has a statute
providing that “a person may not be twice prosecuted for the same
offense.” That provision blocks most cases involving conduct already
prosecuted by another state or the federal government.

Once again,
however, the law is not as simple as it first appears because the
statute has an important exception if the earlier case was “terminated
by a court order expressly founded upon insufficiency of evidence to
establish some element of such offense which is not an element of the
other offense, defined by the laws of this state.” Roughly translated,
that means Mr. Aleynikov probably can be prosecuted again because the
federal case focused on tangible property, while the New York charges
cover computer programs.

There is a good chance the latest charges
will move forward, which makes Mr. Aleynikov’s demand that Goldman pay
his legal fees all the more important because the earlier case
essentially bankrupted him. According to a complaint filed in the
United States District Court in New Jersey, he claims that the legal
fees for the federal case were approximately $2.4 million, and the state
case is likely to run up a similar bill.

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The men the American people admire most extravagantly are the greatest liars; the men they detest most violently are those who try to tell them the truth. … H.L. Mencken

An age is called Dark not because the light fails to shine, but because people refuse to see it…James Albert Michener, novelist (1907-1997)

It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime. … Thomas Paine 1737-1809, Anglo-American Political Theorist, Writer

Laws just or unjust may govern mens actions. Tyrannies may restrain or regulate their words. The machinery of propaganda may pack their minds with falsehood and deny them truth for many generations of time. But the soul of man thus held in trance or frozen in a long night can be awakened by a spark coming from God knows where and in a moment the whole structure of lies and oppression is on trial for its life.: Sir Winston ChurchillWhen governments fear the people, there is liberty. When the people fear the government, there is tyranny. - Thomas Jefferson

When cheaters prosper, we end up with the worst possible system and to call it a free market system is an obscenity. -William BlackWhen the people fear their government, there is tyranny; when the government fears the people, there is liberty." - Thomas JeffersonI believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered. Thomas Jefferson - 1802

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..................................... Ronald Reagan

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